The Economic Times
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| 05 August, 2020, 04:12 PM IST | E-Paper
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    Small businesses in Maharashtra, Delhi to be affected most by reverse migration: Report

    The agency said it assessed the dynamics and impact of reverse migration triggered by the pandemic on Indian states and sectors.

    Innovation to hold the key to India’s future growth: Piyush Goyal

    Innovation led advanced production technologies will foster inclusive and sustainable industrial development, said Piyush Goyal, Minister of Commerce and Industry, Government of India.

    UP to set up MSME industrial parks; marks DPR for north India’s longest expressway

    States have also been encouraged to promote such units in a bid to help the economy recover from the disruption caused by the lockdowns. In line with this, UP has decided to set up MSME parks in Varanasi, Agra, Kanpur, Moradabad, Gorakhpur and Azamgarh. The state has the largest number of MSM units in the country at 14%.

    Government widens ambit of Rs 3 lakh crore MSME credit guarantee scheme

    The maximum amount of guaranteed emergency credit line (GECL) funding under the scheme would also correspondingly increase from Rs 5 crore at present to Rs 10 crore

    Banks cannot refuse credit to MSMEs covered under emergency credit facility: FM

    As part of the Aatmanirbhar Bharat Package, the government had announced Rs 3 lakh crore Collateral-free Automatic Loans for businesses, including MSMEs.

    Focussed on digitising MSMEs in India, on-boarding more sellers: Amazon

    The company has launched Local Shops on Amazon.in, offering shopkeepers and retailers with physical stores the ability to register to serve more customers from their local areas. Since launch, more than 11,000 sellers have enrolled in the program

    Government looks to expand small business loan coverage

    In May, finance minister Nirmala Sitharaman had announced the ECLGS to provide top-up loans of up to 20% to borrowers, with outstanding credit up to Rs 25 crore on February 29.

    Third-party sellers flag Amazon's data policy, say company pushing in-house brands

    The development comes at a time when small sellers are becoming increasingly dependent on online channels for sales in light of the economic disruption due to the Covid-19 outbreak. Amazon founder Jeff Bezos said that he could not guarantee it was not accessing third-party seller data to develop its own competing products.

    Nearly 82,816 MSMEs of Assam sanctioned credit of Rs 1,317 crore during pandemic

    Around Rs 3.44 crore have been disbursed for the indigenous industries of the State in sectors like japi, terracotta, mask-making etc.

    Sidbi, Transunion Cibil partner to launch portal to help MSMEs

    The portal- MSMESaksham- aims to guide MSMEs across their credit lifecycle, from availing credit to start and grow their businesses, to managing credit lines to sustain and build structural strength of the business, as well as ensuring timely closures and renewals of credit facilities.

    iQuippo brings Kobelco's equipment on its platform

    iQuippo brings Kobelco's equipment on its platform

    The partnership will enable Kobelco to showcase its entire portfolio of products, including all the variants of construction and mining equipment, to more than 90,000 customers of iQuippo, a Kanoria Foundation initiative.

    Digitalisation of SMBs could add as much as USD 216 billion to India's GDP by 2024: Study

    Digitalisation of SMBs could add as much as USD 216 billion to India's GDP by 2024: Study

    The study, based on a survey of SMBs from across the Asia Pacific region conducted by IDC and commissioned by Cisco, shows that SMBs that are more digitally mature enjoy twice as many benefits in terms of revenue and productivity compared to those that have an indifferent approach to digitalisation.

    Pre-pack plan for insolvency to be tested with MSMEs

    Pre-pack plan for insolvency to be tested with MSMEs

    Under a pre-packaged insolvency plan, debtors and creditors agree upon the restructuring plan in advance, helping speed up the process.

    Lockdown: MSME relief plan being readied, says Maha minister

    Lockdown: MSME relief plan being readied, says Maha minister

    He said the state government was working to ensure firms operating outside the jurisdiction of MIDC get subsidy benefits on various purchases which are currently unavailable.

    Sahayta initiative aims to revive over 10,000 SMEs: Romesh Wadhwani

    Sahayta initiative aims to revive over 10,000 SMEs: Romesh Wadhwani

    The Wadhwani foundation are trying to serve SMEs at different size levels because the nature of the consulting they need is somewhat different.

    Covid hit tourism, MSME, aviation worst: RBI survey

    Covid hit tourism, MSME, aviation worst: RBI survey

    The central bank conducted a systemic risk survey to capture the participants of experts on the major risks faced by the financial system, which is published in its financial stability report.

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